Midwest Trust Co Invests $22.47 Million in Huntington Bancshares Incorporated $HBAN

Midwest Trust Co bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,340,737 shares of the bank’s stock, valued at approximately $22,471,000. Midwest Trust Co owned 0.09% of Huntington Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HBAN. Family Legacy Financial Solutions LLC acquired a new stake in Huntington Bancshares in the second quarter worth about $25,000. Quarry LP raised its position in shares of Huntington Bancshares by 73.0% during the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after buying an additional 814 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $40,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Huntington Bancshares by 74.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,794 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,195 shares during the period. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of research analyst reports. Jefferies Financial Group cut their target price on Huntington Bancshares from $20.00 to $19.00 in a research report on Monday, November 3rd. Truist Financial raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Citigroup boosted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Morgan Stanley boosted their target price on shares of Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.66.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.69 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm’s 50 day simple moving average is $16.66 and its 200-day simple moving average is $16.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $22.90 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. The firm had revenue of $469.00 million for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 43.36%.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John C. Inglis bought 6,506 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the acquisition, the director directly owned 89,831 shares in the company, valued at $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.